MONEY 112 words
Capital Gains on Asset Disposal: Do I Need to Report?
You sold something, a flat, some shares, a slice of crypto, and now you are not sure if HMRC wants to hear about it. Enter the asset, the proceeds, what you paid and any costs, and it tells you whether you need to report, what gain is taxable, and how to declare it. Clarity before the deadline rather than after.
I disposed of the following asset(s) in the {TAX_YEAR} UK tax year: Asset type: {ASSET_TYPE} (e.g. second property, shares, cryptocurrency, business asset). Proceeds received: £{DISPOSAL_PROCEEDS}. Original acquisition cost: £{ACQUISITION_COST}. Date acquired: {ACQUISITION_DATE}. Any improvement costs or allowable deductions: £{ADDITIONAL_COSTS}. Tell me: (1) whether I need to report this disposal on my Self-Assessment return or via the 60-day CGT property report, (2) how to calculate the chargeable gain correctly including allowable deductions and the Annual Exempt Amount for {TAX_YEAR}, (3) the CGT rate that applies given my total income, (4) any available reliefs (Business Asset Disposal Relief, Private Residence Relief, etc.), and (5) the reporting deadline and payment method. ⚠ human-in-the-loop: you are responsible for the results of using this prompt, not us.